Price and market trends: Petkim to proceed with major PTA expansion

17 January 2013 19:50  [Source: ICB]

Turkish petrochemical producer Petkim is going ahead with a project to increase its purified terephthalic acid (PTA) capacity by 50%, the company said on 9 January.

The capacity of Petkim's PTA plant in Aliaga, near Izmir, on western Turkey's Aegean coast, would be boosted from 70,000 tonnes/year to 105,000 tonnes/year, it added.

Petkim will include the project in its Petrochemical Products Capacity Expansion and New Product Generation capital expenditure programme, the company said. The programme is tied to Petkim's ongoing construction of a $10bn (€7.6bn) petrochemical "supersite" in Aliaga.

Modelled on the Jurong Island industrial zone in Singapore - which includes a chemical manufacturing cluster - the ­Aliaga petrochemical complex should more than triple Petkim's petrochemical production ­capacity by 2023 to 10m tonnes/year.

The complex, complete with a container port, should also enable Petkim to increase its petrochemical exports from around $1bn last year to $5bn by 2023, the company said.

No cost figures or construction deadline for the PTA expansion were available from Petkim.

However, the company noted that its decision to move ahead with the project was made following its receipt of a Strategic Investment Incentive Certificate, which paves the way for substantial ­investment tax incentives, from Turkey's economy ministry.

By: Will Conroy
+44 20 8652 3214

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